EU seeks new curbs on bonuses
Bankers’ bonuses across Europe would be capped at no more than their fixed salaries under strict new curbs sought by senior lawmakers in response to continued public anger over financial sector pay. EU parliamentarians are drawing up new caps on bonuses to be included in the latest bank capital rules.
Tesco to focus on smaller stores
Tesco is poised to slow its store expansion in the UK as part of the strategic blueprint to be outlined next week by new chief executive Philip Clarke. The company is expected to scale back openings of big stores and store extensions, focusing instead on smaller stores. The move is expected to prompt other supermarkets to follow suit, ending the so-called “race for space” among UK grocers.
Ireland and France target Olympics
Ireland and France are luring teams from across the globe for pre-Olympics training camps. Swimmers from 13 countries have signed up to train at Ireland’s national aquatic centre and Pas-de-Calais, in northern France, will host four countries.
Lloyds to dump fund managers
Lloyds Banking Group is dumping more than half of its fund managers. Scottish Widows Investment Partnership, which manages £143bn for savers and investors, is shutting down a string of its regional investment desks.
Flora’s cottage in Scottish hotel sale
A cottage that was home to Flora MacDonald – the Jacobite heroine who helped Bonnie Prince Charlie escape following the Battle of Culloden in 1746 — is up for sale. It is now a hotel.
The Daily Telegraph
Royal Mail limits supply of stamps
Royal Mail is limiting the number of stamps it supplies to retailers to ensure it profits from record price rises later this month. High street chains and post offices said they were running out of stamps as people began stockpiling them.
Temporary staff harm your health
Working with temporary staff harms your health and wealth and can drive down permanent wages by 5 per cent, according to a new report from the National Institute of Economic and Social Research.
THE WALL STREET JOURNAL
Hollande Attacks Sarkozy's Record
French presidential challenger François Hollande attacked Nicolas Sarkozy's economic record yesterday, after the President seized on Spain's rough ride in financial markets to say a Socialist would put France on the same track.
Spanish Budget Law Progresses
Spain's plan to toughen the central government's control of regional finances passed its first legislative hurdle in a parliamentary vote Thursday. It develops budget guidelines that Spain last year enshrined in its constitution.